US to Takeover UK Sub firm

companies after a transatlantic diplomatic row. The Business Secretary said
that he is prepared to agree to the £2.6bn purchase of Ultra Electronics, which
makes vital equipment for nuclear submarines, following promises made by its
buyer, Boston-based Advent International. It comes after US officials
threatened to limit defence cooperation with Britain if the deal was blocked. Advent
has offered to place Ultra’s top-secret businesses into two separate legal
entities. These will each have a government-appointed director to protect
British national security interests and report to the state if the company
tries to sell or pare back services important to defence.

Telegraph 23rd
June 2022

https://www.telegraph.co.uk/business/2022/06/23/nuclear-submarine-supplier-sold-us-buyer-diplomatic-row/